They also need to emphasise people as much as profits, due to the acute shortage of specialist skills in the region; the greatest challenge facing AP CEOs in the next three years.

These are key findings of research by talent management solutions provider Korn/Ferry, in co-operation with the Economist Intelligence Unit. The research polled more than 50 Asia Pacific CEOs on their evolving priorities against a rapidly changing business climate.

Korn/Ferry President, Asia Pacific, Charles Tseng said the most effective AP CEOs had a clear, strategic view of their current and future talent needs -- up to at least two to five years out.

"But now more than ever, Asian leaders need to take a more participative approach to talent management and developing the next generation of leaders in the region," Tseng said.

Be a 'people person'